SpaceX, based in Hawthorne, California, began launching its operational Starlink satellites five years ago. Over the years, the company has rapidly expanded its constellation of broadband satellites in low-Earth orbit. With the successful launch of about 6,000 satellites using its Falcon 9 rocket, SpaceX has fulfilled its promise of providing high-speed Internet services worldwide, making it the largest satellite operator globally by a factor of 10.
The profitability of SpaceX’s Starlink project has been a topic of interest within the space industry. A recent report by Quilty Space suggests that Starlink is indeed profitable. The report indicates that based on a model constructed by Quilty, revenue is expected to reach $6.6 billion by 2024, a significant increase from virtually zero just four years prior. With a growing subscriber base of around 3 million users, SpaceX has effectively managed costs to generate an estimated free cash flow of about $600 million for this year.
The successful transformation of Starlink from a fledgling project to a profitable venture in just five years raises questions about the future of the satellite Internet industry. What’s next for the Starlink network, and how will competitors like OneWeb and Amazon’s Project Kuiper fare in this space? The potential of low-Earth orbit accommodating multiple megaconstellations also sparks curiosity among industry observers.
For further insights into the Starlink project and its profitability, experts in the field, such as Caleb Henry, the director of research at Quilty, will be discussing these topics. This discussion will provide a deep dive into the intricacies of satellite-based Internet service and address pressing questions from viewers. The event, part of the Ars Live series organized by Ars Technica, will take place on June 11 at 2 pm ET on their YouTube livestream platform.
Viewers interested in participating in the discussion can join the event and pose questions to industry experts. The event aims to delve into the complexities of the satellite Internet industry and provide valuable insights for technology and science enthusiasts. Participants can add the event to their Google Calendar or download the event calendar (.ics file) to stay updated on the discussion and engage with experts in the field.